Update SJC Gold Price
Gold Price of 9999 Round Necklace
As of 6:00 PM today, gold price of necklace 9999 Hưng Thịnh Vượng at DOJI is listed at 76.05-77.25 million VND/lot (buying - selling).
Company Vàng bạc Đá quý Sài Gòn lists the gold price of necklace at 75.9-77.4 million VND/lot (buying - selling).
Bảo Tín Minh Châu lists the gold price of necklace at 76.08 - 77.52 million VND/lot (buying - selling).
In recent sessions, the gold price of necklace has often fluctuated in the same direction as the global market. Investors can refer to the global market and expert opinions before making investment decisions.
Global Gold Price
As of 8:00 PM today, the global gold price listed on Kitco is at 2,400.8 USD/ounce.
Gold Price Forecast
Global Gold Price has decreased as the US Dollar Index has increased. At 7:30 PM on August 7, the US Dollar Index, which measures the fluctuation of the US dollar against 6 major currencies, stood at 102.997 points (up 0.23%).
According to some experts, the gold price has decreased partly due to concerns about the possibility of an economic recession in the US and fluctuations in Treasury bond yields. The latest employment report showed that the US unemployment rate has risen to 4.3%, the highest level since October 2021, increasing concerns about the health of the economy.
In the meantime, the yield on 2-year Treasury bonds has increased by 7.9 basis points to 4.016%, while the yield on 10-year Treasury bonds has increased by 11 basis points to 3.908%. These changes in Treasury bond yields, combined with a slight increase in the US Dollar Index (up 0.15% to 102.685), have contributed to downward pressure on gold prices.
Although gold has decreased, gold prices still receive strong support from several factors. Recently, gold ETFs have increased their purchases of the precious metal. Large players such as central banks continue to increase their gold reserves.
The economic instability has led to increased speculation about the upcoming monetary policy decisions of the Federal Reserve. The likelihood of a significant interest rate cut at the Federal Open Market Committee (FOMC) meeting in September has increased significantly.
According to the FedWatch tool of the CME, a tool for analyzing futures contracts to predict changes in monetary policy, there is currently a 100% likelihood of a rate cut next month.
Moreover, the US dollar is in the early stages of a long-term weakening cycle before the FED's rate cut cycle and the efforts of China, India, and other countries, particularly the BRICS group, to rise.
